Prescription Savings

Prescriptions and Rx is another example where transparent pricing has enabled the consumer to drive down prices, and demand higher quality. There are many online companies that provide that lower price / higher quality, and can be found on the Pharmacy discounts page below. Health Savings Accounts have been a major force in the growth of this sector. Online vendors are able to write prescriptions orders for most drugs over the phone or internet.  By having this capability, it eliminates waste, including the cost of seeing a doctor to write the script. This is always a top complaint of patients, especially when it’s a refill of a current medication.

(Just remember that you can NOT use your HSA money for drugs bought from Canadian online companies)

Heads up: Most doctors have no idea how your health insurance works, they assume you have a “copay” on that branded drug they are recommending.  But when you own a high deductible health plan, combined with a Health Savings Account, you will be paying the full cost of the medication, so you better speak up! Be sure to ask your doctor about generic alternatives which can be as low as $4 per 30-day supply. Next, price check online for the best pricing discounts.  And lastly, use your HSA Health Savings Account to tax deduct it.

Recap: Go generic if possible, get Rx discounts where available, and tax deduct the discounted price. That’s how you lower your overall cost of health care. Visit our Rx/Pharmacy Discounts page for more savings information.

TRICK: You can also ask your doctor to prescribe twice the recommended milligrams dosage, buy a pill splitter, and take half a pill or the originally intended amount. You can sometimes save up to 40%-50% using these simple tips.

TIP: Be sure to keep all of your receipts, not only to show the IRS if they ask what you spent this money on, but also to send in to your health plan to put towards the deductible IF you have prescription coverage in the plan.  Only send in if you come close to your deductible.



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